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calculating balance w/interest
Can anyone help me with the formula that will allow me to figure out the balance on a loan or credit card after each payment, without creating a loop? i.e. BALANCE=1000.00 PAYMENT=-100.00 INTEREST=+10.00 NEW BALANCE=910.00(The problem is the "NEW BALANCE" needs to go to the "BALANCE" now. and each "PAYMENT" is an accumulated total.(In January "PAYMENT"=100.00, in February "PAYMENT" equals 200.00, etc.) At the end of the year the result will display the current balance, total of monthly payments, total interest paid.
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#3
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calculating balance w/interest
I have a spreadsheet that is a mortgage calculator that
does this. The formula's can be looked at in the schedual sheets. The VBA just makes those sheets, the formulas do the work. It is at www.kjtfs.com in the downloads section, it is called mortgage calculator. Hope it helps. Keith www.kjtfs.com -----Original Message----- Can anyone help me with the formula that will allow me to figure out the balance on a loan or credit card after each payment, without creating a loop? i.e. BALANCE=1000.00 PAYMENT=-100.00 INTEREST=+10.00 NEW BALANCE=910.00(The problem is the "NEW BALANCE" needs to go to the "BALANCE" now. and each "PAYMENT" is an accumulated total.(In January "PAYMENT"=100.00, in February "PAYMENT" equals 200.00, etc.) At the end of the year the result will display the current balance, total of monthly payments, total interest paid. . |
#4
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calculating balance w/interest
thank you very much Norman, and Keith.
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#5
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calculating balance w/interest
Hi Slaw!
Always pleased to help. If you need examples of credit card schedules and amortization tables I'll send on request off group. -- Regards Norman Harker MVP (Excel) Sydney, Australia Excel and Word Function Lists (Classifications, Syntax and Arguments) available free to good homes. "slaw" wrote in message ... thank you very much Norman, and Keith. |
#6
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calculating balance w/interest
That may help. Im new to this , and still having problems. . thank you
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#7
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calculating balance w/interest
Hi Chris!
Sent a quick and dirty credit card calculator with inputs of: Loan Effective Rate per Month Min % repayment Min $ repayment Rounding amount John Walkenbach's Excel Formulas 2003 covers a lot of the basics of these calculations. -- Regards Norman Harker MVP (Excel) Sydney, Australia Excel and Word Function Lists (Classifications, Syntax and Arguments) available free to good homes. "SLAW" wrote in message ... That may help. Im new to this , and still having problems. . thank you |
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